News – Despite gloomy news from the Chancellor on the state of the public purse, the property market isn’t showing any signs of slowing down, is this good news for landlords?
Residential property sales with up 7% in July compared to last year, however this is slightly down in the month before according to data from HMRC. Industry experts are suggesting this shows greater confidence from buyers and sellers likely down to a more politically stable environment.
New house purchases are up to the highest level in 2 years, with the BoE reporting a 2.3% rise month on month for mortgage approvals. However, interestingly remortage figures fell 8.1% continuing their downward trend since March.
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